Brazil’s Totvs, Datasul in IT Merger

Brazilian software maker Totvs is in talks to acquire rival Datasul for BRL480m and 4.6m Totvs shares. Based on Totvs’ BRL50.10 closing price Tuesday, the total value of the deal could reach BRL710m. The 4.6m shares would be new shares and represent 14.3% of Totvs’ capital. The two boards may sign a formal agreement in the next three days, with shareholder approval meetings expected within 30 days after that, say the companies.